10 Credit Card Processing Companies

Most of today’s money transfers are made through credit card companies for several reasons: it’s fast, it’s safe, and it has quickly become a commodity. A credit card is usually issued by a credit card issuer – a bank or credit union, after the account has been approved by the credit provider. Moreover, electronic verification systems allow merchants to quickly check if the card is valid, and if it has sufficient credit to cover the purchase. This check-up is done by using a credit card payment terminal or point-of-sale (POS) system via communication links to the merchant’s bank. Data from the card is gathered from either a magnetic stripe or the card’s chip. The latter is known as Chip and PIN in the UK and Ireland, and is implemented as an EMV card. For more information on how credit cards work, what are the monthly fees and such ask your card issuer. Our list is comprised of ten credit card processing companies to choose from.

10. iTransact Inc.



We start our list of credit card processing companies with iTransact Inc. – a good credit card processing service with a high discount rate and start-up fee compared to its other fees. The con would be that this service does not provide POS (point-of-safe) terminals. iTransact, like any other service of this kind, has a monthly cost, including a $19.95 per month gateway fee, a $10.00 statement fee and a $25.00 monthly minimum. A plus is that the 2.34% discount rate and $0.30 transaction fee are higher than its competitors.

9. Merchant Credit Card



Merchant Credit Card has some of the lowest monthly costs. They include a $15.00 monthly payment gateway fee, a $9.00 statement fee and a $20.00 monthly minimum, while the 2.35% discount rate has a $0.30 per-transaction fee. Casual fees include only a $25.00 charge back fee. No fees are applied for address verification or voice authorization. In addition, the $100.00 start-up cost includes all the services you’ll need to begin doing business online.

8. Total Merchant Service



Number eight out of ten credit card processing companies is Total Merchant Service – a company that offers four different POS terminals and low-cost monthly costs. There’s a $10.00 statement fee and a $25.00 monthly minimum. The 2.25% discount rate has a $0.20 transaction fee. Charge back fees are affordable as well – $15.00 each. However, the start-up cost is a bit higher than our previous choices, reaching $245. Total Merchant Services processes your application within four days; it can last up to two days to begin receiving money. Lastly, the company offers a choice between Authorize.net and Advanced Merchant Services as your online payment gateway.

7. FirstData



First Data offers a variety of services, including Internet services, retail accounts, and mobile services, each design to fit your needs. The service requires no start-up fee, it enables fraud protection and SSL transfers, and is roughly average when it comes to fees. For example, the Internet service will cost you $19.95 per month and $10 per month for customer service, while the retail account costs $229 for the terminal and printer and $10 a month for customer service. First Data usually approves merchant accounts within two to three days. Once the approval is complete, you can begin using your credit card right the next day.

6. Gotmerchant



Some of the features included by this service are: no setup fee, work with all major credit cards, is compatible with Yahoo stores, available wireless cell phone credit card processing, and a wide range of solutions – including internet based and retail. New accounts take only one day to be approved. As for Internet based features, besides the shared with other companies features such as Authorize.net, the company provides a virtual terminal. Transactions are processed using SSL connections, three-digit security codes and address verifications.

5. Merchant One



Merchant One is the Award Winning Customer Support company that comes with a complete fraud protection package and low monthly costs. They include a $9.95 monthly payment gateway fee, $7.95 Statement fee, a $20.00 monthly minimum, and a 2.05% discount rate with a $0.20 transaction fee. There are no start-up fees. By using Merchant One’s Internet Based service, you can manage all of your transactions from your internet account from basically anywhere you want. All features are included in an user-friendly dashboard.

4. E-Commerce Exchange



E-Commerce Exchange is an established, full-service credit card processing service company that offers both merchant accounts and payment gateway services. The monthly rates of E-Commerce Exchange include a $10 to $20 gateway fee (depending on your business), a $10 statement fee, and some transaction fees. Other fees may occur, such as the charge back fee – $20 and address verification fees that range from $0 to $10. The start-up fee is $0 to $99, and they include the gateway start-up fee and the merchant account application fee. E-Commerce Exchange offers both a virtual terminal and merchant account, in addition to the payment gateway via Authorize.net’s services. A new application usually takes from one to three days maximum.

3. National Bankcard



Although available only in the United States, the National Bankcard company has a very strong reputation built around creating long-term customer relationship models. Unlike other similar services, National Bankcard doesn’t require a two-year contract. Low rates, high security, great online features are just a few words to describe the company. Some of the fees practiced by the company include a monthly payment gateway fee and a statement fee, both of $7.95. For internet activity the National Bankcard charges a $0.21 transaction fee and has a 1.99% discount rate. For POS activity, NB charges a $0.19 transaction fee and has a 0.38% – 1.58% discount rate. There are no start-up fees.

2. Merchant Warehouse



Another excellent company with a reputation for quality customer service is Merchant Warehouse, a credit card processing company that offers a handful of cheap start-up options, and a competitive discount rate for internet-based businesses. The company’s fees include a $7.95 statement fee, a $25.00 fee usually for new accounts, a 2.19% discount rate and a $0.21 per-transaction fee. In addition to the regular fees, Merchant Warehouse has a $25.00 charge back fee, a $0.65 voice authorization fee and a $0.05 address verification fee. For internet services MW charges $10 a month. There are no cancellation or start-up fees. For online solutions Merchant Warehouse comes with a variety of choices that include different gateways: Authorize.net, LinkPoint, VeriSign Payflow link, VeriSign Payflow Pro, and the MerchantWARE Virtual Terminal.

1. Flagship Merchant Service



There are many advantages to take into consideration when signing-up with Flagship. First of all, there are no start-up fees, and once your account is set, you start receiving money from your sales two days after the completed transaction. Moreover, you can operate with the company based on a month-to-month agreement instead of the two-to-three year contract, thus eliminating any risks of paying extra fees for an early termination. And speaking of fees, Flagship asks for a $7.95 monthly payment gateway fee. To start an account all you have to do is fill out an application – the processing is free of charge. As for internet-based services, FMS offers a merchant account, a virtual terminal, and a payment gateway via Authorize.net – one of the most trusted and used payment gateways services out there.

Concluding our top we ask our readers: Which of these seem to fit your needs ? Let us know, and don’t forget to vote for us.


  1. Michael says

    Thanks a lot, I really needed to use one card processing company. I’ve also heard that Flagship and Merchant Warehouse are in top.

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